Cryptocurrency

Solana

Bitcoin

April

TRON

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 <p class="paragraph">Bitcoin (BTC) has recently embarked on an impressive rally, captivating the attention of both seasoned investors and newcomers to the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> space.&nbsp;</p>
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 <p class="paragraph">This surge has been propelled, at least in part, by mounting optimism regarding the imminent approval of a long-awaited spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC), possibly even before the year’s end.&nbsp;</p>
 <p class="paragraph">These hopeful expectations have infused the crypto markets with a fresh wave of enthusiasm, lifting Bitcoin to an impressive yearly high of approximately $35,400. This is also the highest level for BTC since May 2022.&nbsp;</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/PfUkeJvnwhCbc8_CjIv6eszn2Zz7arUvhPCLEfuZLoPBWh5ZUVpVpyQjtHAznkHynlfk1WneqSH5T8py4cifeZuO1G5HMxxARQA4UA895EF_j0UFjtvXCFXPz2Q2FTkslVpKvAFOeLJgEo_74zwDiz0" alt>
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   Bitcoin hitting a yearly high. Source: Michaël van de Poppe
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 <p class="paragraph">On November 1, a prominent <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> Michaël van de Poppe offered insights into the ongoing uptrend, saying the rally will likely continue if BTC manages to maintain a key price level.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-bitcoin-must-stay-above-this-price-level-to-see-further-gains">Bitcoin must stay above this price level to see further gains</h2>
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 <p class="paragraph">According to Poppe, Bitcoin needs to stay above the $34,800 level in order to maintain its upward momentum.</p>
 <p class="paragraph"><br>If that happens, the maiden cryptocurrency is likely to attack its next target, which is the $36,500 – $37,000 price range, the analyst said.&nbsp;</p>
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  <p class="paragraph">“Bitcoin breaks out and reaches a new <a rel="noopener noreferrer nofollow" title="yearly" href="https://thebittimes.com/tag/yearly.html">yearly</a> high. Not a massive breakout, but as long as we stay above $34.8K, the next <a rel="noopener noreferrer nofollow" title="target" href="https://thebittimes.com/tag/target.html">target</a> is $36.5-37K.”</p> <cite>– wrote Poppe. </cite>
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 <p class="paragraph">A successful leap toward $37,000 would pave the way for altcoins to stage their own uptrend, the widely followed expert noted.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">At the time of publication on November 2, BTC was changing hands at $36,367, up more than 2.8% in the past 24 hours.</p>
 <p class="paragraph">The world’s leading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> asset gained 3.5% across the week and almost 25% on the monthly chart, adding more than $150 million in market cap during this run.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/-sZXcM-eaTOgWXFdIw_5mGuNImCnZyC-IvGJGlcK6MkI16umAr8fPsntV6S_czO-WYEy87zNyc_N5kk3Y0lXxRqLcQxwR1AYMf-oXQ9AIsHlHDWmB4qoMg-xrOhLJBQnIefTCZ525X4rwUoNR-VNZL4" alt>
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   BTC 1-month price chart. Source: Finbold
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 <p class="paragraph">Year-to-date, the cryptocurrency’s gains now stand at an impressive 113%.&nbsp;</p>
 <p class="paragraph">In a separate analysis from last week, Poppe said the ongoing rally could propel Bitcoin to as high as $50,000 before the next halving event, which is expected to occur in April 2024. After the halving, the expert believes BTC will enter a consolidation phase and witness “sideways action for a long period” before it begins printing new all-time highs.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-hits-yearly-high-37-000-next-target-says-crypto-analyst-tbt68801.html">https://thebittimes.com/bitcoin-hits-yearly-high-37-000-next-target-says-crypto-analyst-tbt68801.html</a></p>

Bitcoin hits yearly high, $37,000 next target, says crypto analyst

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TheBitTimes

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